Speaking at the SourceMedia mortgage servicing conference in Dallas, Richard Koss, the director of mortgage market analysis for Fannie Mae, described the market as a one where home prices are affordable on the backs of low interest rates, but qualifying for a mortgage or saving for a down payment remains a challenge for most, especially the younger adult population.
2012 was a positive year for the economy with the housing sector contributing to overall economic growth for the first time in years.
We lost about 9 million jobs in the private sector from the peak to the trough of the recession and we have recovered about 6 million of those jobs, so we are two-thirds of the way back.
But it has been four years, and we really should be well past that because the overall population has grown in the meantime, so it still remains a pretty anemic recovery, Koss
We also lost 2 million construction jobs during the recession and have recovered only 300,000 of them, he
, on the other hand, is comfortable